Gold gains 2.5% on peace deal
The price of gold rose by 2.5% to reach $4,350 per ounce after the United States and Iran reached an agreement to end the war and open the Strait of Hormuz, leading to a decline in oil prices and a reduction in inflation fears. This development comes amid expectations of easing geopolitical tensions and their impact on interest rates, with the market divided regarding the likelihood of future interest rate hikes.
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